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Shire Financial - Terms of Business
Our Service
Life
This Terms of Business sets out how Shire Financial Management (SFM) will deal with you in the provision of advice regarding your protection and assurance needs. It covers protection and assurance products, which are regulated by the Financial Services Authority.
We are Independent and always act on your behalf. Any recommendations we make to you will be based on our independent research in the marketplace. Our service includes advising you on your protection and assurance needs, arranging your insurance cover and helping you with any changes you have to make
Mortgage
Our aim, as Independent Mortgage Advisers is to provide a quality client-focused service. We appreciate and understand that your mortgage is likely to be the largest financial commitment you will undertake. Our role is to help you understand how mortgages work and how control of the repayments is essential for prudent money management.
We will seek to reduce the financial burden and where possible, allow you to redeem your mortgage earlier. In addition, we seek to provide adequate protection for you and your family.
Throughout our association with you we are committed to giving the highest standard of service and customer care both before, during, and after your mortgage completes.
Shire Financial Management – Independent Mortgage Advisers LLP, is regulated by the Financial Services Authority. Our registration number is 301835. Full details of our Mortgage Services are in the attached Key Facts Document.
We will provide an explanation of the main relevant repayment methods available (ie; capital and interest or interest-only). If you select a repayment option, that includes an investment-based product that is regulated under the Financial Services Authority, we will introduce you to one of our Authorised Financial Advisers.
During our initial meeting, we will be completing a detailed mortgage/financial review questionnaire to enable appropriate advice to be given on your mortgage and other related insurance products.
After making our recommendations to you, we will confirm our advice in writing. You should keep this, as it will be an important record of our discussions. Details of the loan will also be confirmed in your lender’s formal offer.
We wish to make you aware that “Buy to Let” Mortgages are NOT regulated by the Financial Services Authority
Your Requirements
We will make sure that, as far as possible, the products and services we offer you will match your requirements. We will give you enough information and assistance so that you can make an informed decision before you make a final commitment. In order to do this, we may need to identify your needs by obtaining from you information regarding your personal and financial circumstances.
Your Obligations
It is essential that you are aware of your own duty to provide full details of ALL factors, which an Insurer may wish to consider in relation to any proposal that you make. All answers given on any proposal form and any other statements made by you to us are your responsibility. FAILURE TO DISCLOSE MATERIAL FACTS MAY WELL RENDER THE COVER VOID. Please ask us if you are in any doubt.
Life Fees & Costs
We are paid commission direct from the Life Company on completion of the sale. We will disclose to you the commission we receive upon request. All cheques for premiums or money of any kind must be payable to the Life Company, in no circumstances must a cheque be made out to us or cash given to us.
Authority to Act
In order to avoid any possible disputes, we normally require clients to give instructions in writing before we will act for you. We will however, accept all instructions, provided they are subsequently confirmed in writing. By signing this letter, you will authorise us to contact you, from this date onwards, for the purposes of discussing any of your financial needs. You, or we, may terminate our authority to act on your behalf at any time, without penalty, notice of this termination must be given in writing.
We will treat all your personal information as private and confidential (even when you are no longer a customer), except where the law requires us to do so or where disclosure is made at your request or consent in relation to arranging your mortgage, for example; when instructing a Financial Adviser or Insurance Specialist.
You have the right to inspect any documentation we hold in respect of our dealing with you, we will keep copies of your records only for the duration of the selected product(s) as suitable for your requirement. They will be kept confidential and in accordance with the requirements of the Data Protection Act.
Complaints - Life
If a complaint should arise, please in the first instance contact us at our office address. We will handle your complaint fairly and speedily.
Confidentiality & Security
In order to process your application it may be necessary to disclose your information to third parties who may hold this information indefinitely. We may also be required to disclose your information if we are legally compelled to. We may also obtain advice and guidance from professional advisers such as compliance advisers. On these occasions, you agree that personal information held by us may be disclosed on a confidential basis and in accordance with the Data Protection Act 1998 to such third parties.
You agree that this information may be transferred electronically e.g. e-mail. Under the terms of the Data Protection Act, you have the right to view any personal data we may keep on you.
We look forward to being of service to you. Thank you for the opportunity to review your current situation.
SFM remains committed to saving money for our clients and providing a quality service.
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